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In a new report (its fourth on electric car adoption) the Boston Consulting Group forecasts that a combination of hybrid and fullyelectric powertrains will cut the global market share of pure internal combustion engines (ICEs) by about 50% by 2030. The lowcost of gasoline in the US will yield similar results.
Ahead of its EV blitz, Ford is currently the fastest-growing auto brand in Saudi Arabia. Ford said it’s currently the fastest-growing auto brand in Saudi Arabia. The company highlighted its new lineup of vehicles , including its first fullyelectric vehicle, the Mustang Mach-E.
Volvo announced it planned to build its new low-cost EX30 at its Ghent plant in Belgium last October. Volvo was already planning to move EX30 production to its Belgium plant as demand for the low-cost compact electric SUV climbed. Volvo’s fullyelectric cars accounted for 25% of all vehicles sold last month.
Another fullyelectric BYD vehicle is set to debut this week. Ahead of its official reveal, BYD is teasing the upcoming Ocean-M electric car, which will be based on its new EV platform. BYD is launching new luxury models, mid-size electric EVs, and don’t forget all-electric supercars.
Another low-costelectric vehicle is headed to the US. A $25,000 Jeep EV is coming to the US soon Jeep’s first fullyelectric vehicle for the US will officially debut this week. Several rivals already have low-cost EVs rolling out soon, including Volvo’s EX30 ($34,950) and the Chevy Equinox EV ($34,995).
Volvo began building its new low-cost EV, the EX30, in Zhangjiakou, China, last fall. The EX30 is “one of the best-selling fullyelectric cars in Europe” in its first few months on the market, according to Björn Annwall, chief commercial officer and deputy CEO at Volvo Cars. It also features up to 275 miles range.
After a slow start, Toyota is looking to shake things up with its next round of electric cars. Toyota’s second best-selling SUV in the US, the Toyota Highlander, is going fullyelectric. The Japanese automaker has been notoriously slow in transitioning to fullyelectric vehicles. of Toyota’s total sales.
Volvo sold over 113,000 fullyelectric vehicles in 2023, up 70% compared to 2022. Electric cars accounted for 16% of Volvo’s total vehicle sales in 2023, but this year is expected to be even bigger. Rowan told Reuters he expects “tremendous growth” this year as new models like the low-cost EX30 roll out.
Volvo reached its highest-ever share of electrified vehicles as its new fullyelectric EX30 boosted EV sales in February. Although overall sales slid 2% last month, Volvo’s fullyelectric vehicle sales were up 14%, reaching a new record share. Fullyelectric cars also set a new record.
To boost sales and fend off low-cost Chinese rivals, Kia will introduce a new lineup of affordable EVs in addition to hybrids starting this year. In response to “the slowdown in EV demand growth,” Kia plans to launch more hybrids while introducing new low-costelectric models. million in 2030.
Last year, NEVs accounted for 35% of China’s auto sales. Electric vehicles pushed China past Japan to become the global auto export leader. Now, the automaker has several fullyelectric models below or close to the 100,000 yuan mark. FTC: We use income earning auto affiliate links.
Although EV sales fell 10% from June (145,179), BYD still sold 130,000 fullyelectric vehicles last month. BYD has sold 856,153 fullyelectric vehicles through July. FTC: We use income earning auto affiliate links. This is BYD’s fifth straight month of PHEV sales growth. Let us know your thoughts in the comments.
To boost sales and fend off low-cost Chinese rivals, Kia will introduce a new lineup of affordable EVs in addition to hybrids starting this year. In response to “the slowdown in EV demand growth,” Kia plans to launch more hybrids while introducing new low-costelectric models. million in 2030.
By 2027, Jeep will launch six fullyelectric vehicles. Although Jeep dealers say an affordable electric Jeep Renegade would likely sell, can the brand deliver it for under $25,000? would welcome a low-costelectric Jeep. Meanwhile, most rivals are also targeting the low-cost EV segment at this point.
By 2030, all Volvo cars sold should be fullyelectric. Volvo already has a strong lineup of EVs rolling out, including the low-cost EX30 , starting around $35,000, and the larger EX90. It’s also launching its first luxury electric minivan, the EM90 , in China. FTC: We use income earning auto affiliate links.
BYD set to begin EV production in Thailand in Q3 After showcasing its full range of brands at the Bangkok Auto Show this week, BYD said it will kick off EV production in the country in Q3. The fullyelectric BYD Atto 3 SUV was the top-selling electric model, with over 19,200 units delivered.
BYD’s Blade batteries power Tesla, Ford, Kia, Hyundai, Toyota, and other popular electric vehicles from major automakers. The batteries are installed in most BYD models, such as the low-cost Seagull, Dolphin electric hatch, and Atto 3 SUV. The batteries are a major reason behind BYD’s success.
Toyota wants a bigger share of the worlds largest EV market with a new low-cost EV rolling out. Now available for pre-orders in China, the Toyota bZ3X electric SUV starts at just $13,800 (100,000 yuan). The bZ3X electric SUV was unveiled at the 2024 Beijing Auto Show alongside the bZ3C sedan.
Ford sold 8,242 fullyelectric vehicles in the US last month, up 31% (6,280) from July 2023. Farley stressed that Tesla and low-cost Chinese OEMs are the ultimate competition. FTC: We use income earning auto affiliate links. Ford’s vehicle sales fell flat as new, updated models hit the market.
The comments come after a source told Bloomberg Businessweek that Ford was developing a low-cost EV platform to power a smaller electric pickup and SUV with starting prices around $25,000. Meanwhile, Ford is delaying plans for a larger three-row electric SUV due to the shift. Is Lincoln making a mistake?
Of them, nearly 146,400 were fullyelectric. BYD has sold 580,974 all-electric vehicles so far this year, up 19% compared to the 488,600 sold a year ago. Despite potential tariffs, BYD still expects the low-cost EV to start at less than 20,000 euros ($21,500), still thousands lower than its rivals.
Fullyelectric vehicle sales also trended higher. Electrek’s Take BYD’s low-cost EVs are already worrying overseas rivals. Source: CnEVPost , BYD FTC: We use income earning auto affiliate links. BYD’s plug-in hybrids set a new monthly sales record with 184,093 sold last month, up 22% YOY.
“Despite the recent public debate, there is no doubt the future of the car is electric,” Audi’s boss explained. “At At Audi, we will electrify all core segments by 2027 and have defined a fullyelectric target portfolio.” Kia is also planning a series of low-cost models. 2 SUV , the affordable EVs bigger sibling.
They dont require any of that futzing around with air-to-fuel ratios, spark timing, and valve-train tweaking that Yeung and countless other auto engineers have tinkered on for more than a century. new-car sales were fullyelectric models, and Tesla accounted for roughly three-quarters of those.
Mercedes saw it as an opportunity as China’s auto market began shifting to electric options. Source: Denza) China’s leading automaker sold over 300,000 fullyelectric vehicles in the first three months of 2024, up 13% over last year. FTC: We use income earning auto affiliate links.
Farley said as the number two EV brand in the US, “We are committed to scaling a profitable EV business, using capital wisely and bringing to market the right gas, hybrid and fullyelectric vehicles at the right time.” What are your thoughts on Ford delaying production of its three-row electric SUV? Let us know in the comments.
Klaus Zellmer, the global CEO of Skoda Auto, has visited India thrice in the past 18 months. While India continues to remain an outlier at present, it is expected to remain among the fastest growing auto markets in the coming decade, having already become one of the top three markets in the world for Skoda Auto. As India 3.0
In Germany, statistics from the Federal Motor Transport Authority reveal that total car registrations in March fell by 38% while fullyelectric cars actually grew by 56% and hybrids by 208%. Chinese car producer BYD even recorded a 337.25% increase in March sales amongst its fullyelectric and hybrid car models.
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